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28 February 2021
Name: | TRADITIONAL THERAPY CLINICS LIMITED (TTC) |
Date of Listing: | 08 September 2015 |
Date of Delisting: | 17 December 2018 |
Stock Exchange Status: (updated daily)
This entity was delisted from the Australian Securities Exchange on 17 December 2018.Legal Status: (updated monthly)
ACN: 603 792 712
This entity was placed in liquidation on 29 January 2019.Capital Gains Tax (CGT) Status: (updated at least quarterly)
This entity is in liquidation, its securities in our opinion, are of little or no value. Previously listed entities that enter external administration, rarely provide a distribution to shareholders unless the winding up is for reasons other than corporate failure. If you are still a holder of securities and seek to realise a capital loss for Capital Gains Tax (CGT) purposes you will need to wait until the liquidator has issued a declaration of loss (a CGT Event) or the entity is deregistered (a CGT Event) or the entity recovers. (Once an entity “progresses” to the liquidation stage, deListed is unable to acquire its securities.).
Updates, corrections, disagreements please email to admin@delisted.com.au
Further information: deListed and InvestoGain are operated by Investogain Pty Limited which is licensed by ASIC as an Australian Financial Services Licensee (AFSL 334036). deListed acquires only securities that it deems to be of little or no value, in circumstances where the holder is unable to sell their securities on-market in the normal manner. This service has been provided online via the company’s website www.delisted.com.au since 2004.
Getting advice: Information provided in this section is of a general nature and applicable only to Australian tax residents who hold their investments on capital account (ie for long-term investment purposes). It has been prepared without taking into account your financial needs or tax situation. Before acting on the information, deListed suggests that you consider whether it is appropriate for your circumstances and recommends that you seek independent legal, financial, or taxation advice.
Disclaimer: The information provided above is to the best of our knowledge accurate as of today. But you should bear in mind that it is of a general nature and does not constitute financial or tax advice. Investogain Pty Limited accepts no liability for any loss arising from reliance on this information, including reliance on information that is no longer current.
REGISTRY:
Computershare, Yarra Falls, 452 Johnston Street, Abbotsford VIC 3067
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail
liquidators advise they have received notification that ASIC has decided not to fund further investigations into the affairs of the Company and its officers - they are now seeking interest from any creditors and/or shareholders to fund the investigations and/or acquire the Company's assets, being its shareholdings in China Fuqiao Healthcare Industry (Hong Kong) Limited, a company incorporated in Hong Kong - accordingly, they are still unable to make a loss declaration pending the outcome of the above | 16/12/2020 |
Daniel Johannes Bredenkamp Joint Liquidator and Bryan Kevin Hughes Joint Appointees of Pitcher Partners as liquidators | 29/01/2019 |
delisted from Monday, 17 December 2018 pursuant to Listing rule 17.12. | 17/12/2018 |
we understand this company failed and ASX removed the company from listing due to its failure to lodge financial statements and respond to a long list of ASX queries | 17/12/2018 |
The administrators provided creditors with a notice of meeting. The notice of meeting was accompanied by the report by the administrators about the company's business, property and affairs and financial circumstances. The Voluntary Administrators' Report was prepared with the view that the Administrators would recommend a recapitalisation deed of company arrangement, which would have involved undertaking further investigations into the Company's affairs whilst preserving the value of the TTC's listing on the Official List. However, the Administrators received notice late yesterday that the Australian Securities Exchange would be removing TTC from the Official List of ASX from the commencement of trading on Monday 17 December 2018. Due to the time constraints in issuing the Voluntary Administrators' Report, the Administrators issued the report together with a circular advising same and recommending the meeting be convened, and then adjourned for up to 45 business days in accordance with rule 75-140 of the IPR. | 14/12/2018 |
The first meeting of creditors of the Company was held at the office of Pitcher Partners in Perth on Wednesday 28 November 2018. At the meeting the creditors ratified the appointment of the Administrators and elected not to appoint a Committee of Inspection. The Administrators are currently assessing the Company's operations in order to determine the best strategy for realising maximum value from them for the benefit of its stakeholders. | 29/11/2018 |
The administrators advise that the company has relied on deferral relief under the ASIC Corporations Instrument 2015/251 which provides relief in respect of the Company's obligation to prepare, lodge and have audited its half-year financial report and directors' report in respect of the period ending 30 June 2018 and its full-year financial report and directors' report in respect of the period ending 31 December 2018 for a period of up to six months from the date of the Administrators' appointment. | 23/11/2018 |
The administrators have assumed control of the company's assets and operations and will work with the board of directors during the administration period to maximise the outcome for all stakeholders of the company. Whilst TTC is in administration the shares will remain suspended. Shareholders are also unable to transfer their shares during this time. | 21/11/2018 |
The board had appointed Daniel Johannes Bredenkamp and Bryan Kevin Hughes of Pitcher Partners as joint and several voluntary administrators of the above company. | 19/11/2018 |
we note on this date at about the same time the board of this company appointed two new directors (Grace Zhang and Tiger Tang) and administrators (Daniel Johannes Bredenkamp and Bryan Kevin Hughes of Pitcher Partners) - it makes you wonder just what goes on around the board table of some of these companies | 16/11/2018 |
The auditors also noted that the half year report could not be finalized within time because the auditors could not obtain to their satisfaction an independent confirmation from TTC's bank in China to support the Company's true cash at bank balance as at 30 June 2018. The auditors first brought this to the attention of the Company on 30 August 2018. The auditors proposed on 3 September 2018 a template for a new confirmation procedure for independent confirmation of true cash at bank which required authority from, but no participation by, TTC management. The Company's management has not provided this authority. | 24/09/2018 |
The company issues a response to ASX Query. | 12/09/2018 |
The securities of the company will be suspended from Official Quotation in accordance with Listing Rule 17.5 from the commencement of trading today, 3 September 2018, following failure to lodge the relevant periodic report for the period ended 30 June 2018 by the due date. | 03/09/2018 |
listed entity carried for record purposes only | 08/09/2015 |
liquidators advise they have received notification that ASIC has decided not to fund further investigations into the affairs of the Company and its officers - they are now seeking interest from any creditors and/or shareholders to fund the investigations and/or acquire the Company's assets, being its shareholdings in China Fuqiao Healthcare Industry (Hong Kong) Limited, a company incorporated in Hong Kong - accordingly, they are still unable to make a loss declaration pending the outcome of the above | 16/12/2020 |
Daniel Johannes Bredenkamp Joint Liquidator and Bryan Kevin Hughes Joint Appointees of Pitcher Partners as liquidators | 29/01/2019 |
delisted from Monday, 17 December 2018 pursuant to Listing rule 17.12. | 17/12/2018 |
we understand this company failed and ASX removed the company from listing due to its failure to lodge financial statements and respond to a long list of ASX queries | 17/12/2018 |
The administrators provided creditors with a notice of meeting. The notice of meeting was accompanied by the report by the administrators about the company's business, property and affairs and financial circumstances. The Voluntary Administrators' Report was prepared with the view that the Administrators would recommend a recapitalisation deed of company arrangement, which would have involved undertaking further investigations into the Company's affairs whilst preserving the value of the TTC's listing on the Official List. However, the Administrators received notice late yesterday that the Australian Securities Exchange would be removing TTC from the Official List of ASX from the commencement of trading on Monday 17 December 2018. Due to the time constraints in issuing the Voluntary Administrators' Report, the Administrators issued the report together with a circular advising same and recommending the meeting be convened, and then adjourned for up to 45 business days in accordance with rule 75-140 of the IPR. | 14/12/2018 |
The first meeting of creditors of the Company was held at the office of Pitcher Partners in Perth on Wednesday 28 November 2018. At the meeting the creditors ratified the appointment of the Administrators and elected not to appoint a Committee of Inspection. The Administrators are currently assessing the Company's operations in order to determine the best strategy for realising maximum value from them for the benefit of its stakeholders. | 29/11/2018 |
The administrators advise that the company has relied on deferral relief under the ASIC Corporations Instrument 2015/251 which provides relief in respect of the Company's obligation to prepare, lodge and have audited its half-year financial report and directors' report in respect of the period ending 30 June 2018 and its full-year financial report and directors' report in respect of the period ending 31 December 2018 for a period of up to six months from the date of the Administrators' appointment. | 23/11/2018 |
The administrators have assumed control of the company's assets and operations and will work with the board of directors during the administration period to maximise the outcome for all stakeholders of the company. Whilst TTC is in administration the shares will remain suspended. Shareholders are also unable to transfer their shares during this time. | 21/11/2018 |
The board had appointed Daniel Johannes Bredenkamp and Bryan Kevin Hughes of Pitcher Partners as joint and several voluntary administrators of the above company. | 19/11/2018 |
we note on this date at about the same time the board of this company appointed two new directors (Grace Zhang and Tiger Tang) and administrators (Daniel Johannes Bredenkamp and Bryan Kevin Hughes of Pitcher Partners) - it makes you wonder just what goes on around the board table of some of these companies | 16/11/2018 |
The auditors also noted that the half year report could not be finalized within time because the auditors could not obtain to their satisfaction an independent confirmation from TTC's bank in China to support the Company's true cash at bank balance as at 30 June 2018. The auditors first brought this to the attention of the Company on 30 August 2018. The auditors proposed on 3 September 2018 a template for a new confirmation procedure for independent confirmation of true cash at bank which required authority from, but no participation by, TTC management. The Company's management has not provided this authority. | 24/09/2018 |
The company issues a response to ASX Query. | 12/09/2018 |
The securities of the company will be suspended from Official Quotation in accordance with Listing Rule 17.5 from the commencement of trading today, 3 September 2018, following failure to lodge the relevant periodic report for the period ended 30 June 2018 by the due date. | 03/09/2018 |
listed entity carried for record purposes only | 08/09/2015 |
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If you have received an SRN from Computershare and you need to do some form of Administration, give Pitcher Partners a call on 08 9322 2022 | 14/01/2019 10:48:48 |
NAME | TITLE | DATE OF APPT |
---|---|---|
Zhirong Hu | Managing Director | 08/09/2015 |
Peter Wong | CFO | 21/07/2016 |
Yongqiang Du | Executive Director | 03/07/2018 |
Sanzheng Zhang | Executive Director, CEO | 08/09/2015 |
Date of first appointment, title may have changed.
NAME | TITLE | DATE OF APPOINTMENT | DATE OF RESIGNATION |
---|---|---|---|
Tiger Yu Tang | Non Exec Director | 19/12/2018 | 25/11/2018 |
Grace Xi Zhang | Non Exec Director | 19/11/2018 | 25/11/2018 |
Geoffrey Ross | Non Exec Chairman | 07/07/2016 | 03/09/2018 |
Christian Drysdale | Non Exec Director, CFO | 07/07/2016 | 03/09/2018 |
Andrew Sneddon | Non Exec Director | 08/09/2015 | 04/08/2016 |
Jeff Fisher | Independent Director | 08/09/2015 | 07/07/2016 |
Glen Lees | Independent Director, CFO | 08/09/2015 | 07/07/2016 |
Date of first appointment, title may have changed.
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